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Joele Frank is handling Blackbaud, the Charleston-based $1.1B marketer of software designed to empower social impact, as it fends off an unsolicited takeover bid from Clearlake Capital Group.
The $71 per share offer is a 25.9 percent premium over the 30-day average trading price of Blackbaud’s stock for the period ended March 24.
Blackbaud’s board has determined that the proposal is highly opportunistic and significantly undervalues the company.
Chairman Andrew Leitch called the bid an overt attempt to put Blackbaud in play.
Non-profits and educational institutions use Blackbaud’s software for fundraising, grantmaking and financial management.
Joele Frank, Wilkinson Brimmer Katcher’s Jamie Moser and Nick Lamplough represent Blackbaud.
Lambert’s Jennifer Hurson is working for Clearlake Capital Group, which is headquartered in Santa Monica.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
